Sundaram BNP Paribas hikes stake in Spicejet to 5.35 pc

MUMBAI: Sundaram BNP Paribas Mutual Fund, a subsidiary of Sundaram Finance, has increased its stake in Spicejet to 5.35 per cent from the existing 4.72 per cent.

Sundaram BNP Paribas Mutual Fund acquired over 15.13 lakh shares of the low-cost airline through open market purchases, Spicejet said in a filing to the Bombay Stock Exchange.

Sundaram BNP Paribas picked up the equity shares from the open market on November 13 for over Rs 6.78 crore, it said.

This resulted in Sundaram BNP Paribas owning 1.29 crore shares of the low-cost carrier, it said.

Prior to this latest acquisition, Sundaram BNP Paribas held over 1.13 crore equity shares, representing 4.72 per cent stake of the low-cost airline, it said.

Sundaram BNP Paribas bought the equity shares for its various mutual fund schemes, it said.

Shares of Spicejet closed at Rs 45.45, down 4.62 per cent from its previous close on the BSE.